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Ocean towage partnership forged

Ocean towage partnership forged
Singapore: PACC Offshore Services Holdings (Posh), a subsidiary of Kuok (Singapore), has teamed up with a joint venture company of Ezion Holdings and Seabridge Marine to offer ocean towage service.

Posh and the joint venture firm Terasea will form Posh Terasea, which will operate five anchor handlers of 12,000-16,000 bhp and four deepwater anchor handlers of 16,000 bhp.

The partnering companies claimed Posh Terasea will operate the largest and youngest fleet of vessels for the ocean towage market.

“With an expanded fleet of nine specialised vessels operating globally, the joint venture is able to offer its customers greater reliability. In addition, the joint venture operates vessels of three different categories of bollard pull, and this will provide our customers greater flexibility in configuring their bollard pull requirement,” said Peter Lee, ceo of Terasea.

Posh Terasea will be led by Eric Ng, who is the director of the Posh EPIC division. Ng said: “Oil majors are demanding higher safety standards, as well as younger and more powerful vessels.”